Adobe announced on Monday that it will acquire Magento Commerce for $1.68 Billion. The company specializes in cloud-based omnichannel solutions helping merchants merge offline and online shopping experiences.
Magento will be integrated into the Adobe Experience Cloud. Its customers include Canon, Helly Hansen, and Rosetta Stone.
The deal is expected to close in the third quarter of Adobe’s 2018 fiscal year.
Acer announced on Monday that several of its notebook models will have an Amazon Alexa capability.
The pre-installed offering will let users command certain tasks on Acer Spin 3 and 5 lines via voice control.
The announcement is part of a broader rollout to integrate Amazon Alexa on more of its PC portfolio.
Netflix announced on Monday that it has formed a storytelling partnership with Barack and Michelle Obama.
The multi-year agreement will produce various types of content such as documentaries and features.
The projects created by the agreement will be made available to 125 million Netflix members in 190 countries around the globe.
GE Transportation, a unit of the General Electric Company announced on Monday that it has entered into a definitive agreement to merge with the Wabtec Corporation.
The merger will make Wabtec a Fortune 500 leader in rail equipment, software and services, in 50 countries around the globe. Wabtec employs approximately 18,000 employees globally.
The deal is valued at $11.1 Billion.
The Finland-based company announced on Monday that the funds will be used to scale the company and expand during its second year of operations. The new round of funding values the company at $1 Billion.
HMD, a manufacturer of Nokia branded smartphones, will use the new funds to expand its portfolio of Nokia smartphones. It will also focus on expanding channel reach in strategic markets.
HMD was established on December 1st, 2016. During its first year of operations, the company has shipped more than 70 million Nokia branded phones. It has also scaled sales operations in over 80 countries. The company’s products have been activated in 170 countries.
Sony announced today that it has signed a legally binding memorandum of understanding with the Mubadala Investment Company to purchase its 60% equity stake in EMI Music Publishing.
The $2.3 Billion deal will turn EMI Music Publishing into a consolidated subsidiary of Sony as the company will now own a 90% equity interest in the music publisher. The deal comes at a significant point in time when the music industry is seeing new growth fueled by streaming services.
According to a company press release, EMI Music Publishing owns or administers over two million songs that include classics by Queen, Carole King and the Motown catalog along with contemporary songs from Kanye West, Alicia Keys, Pharrell Williams, Calvin Harris, and Drake.